The materials composition has an important effect on rheological properties of Terminal Blend (TB) hybrid asphalt binder. In this study, TB hybrid asphalt binders containing crumb rubber modifier, styrene–butadiene–styrene (SBS) and sulphur at different percentages were prepared. Storage stability test, Superpave performance grading test and multiple stress creep and recovery test, and bending beam rheometer test were conducted to investigate rheological behaviours of TB hybrid binders. Rheological master curve constructed at 25°C was used to characterise the rheological behaviour of TB hybrid binders over wide frequencies. The results indicated that SBS and sulphur help to improve the high-temperature properties and elastic behaviour of TB rubberised asphalt binders, especially when critical sulphur amount is used. The increase in sulphur amount could produce less m-controlled TB hybrid binders. According to the laboratory investigations, 0.2–0.3% amount is recommended to produce TB hybrid binders with reasonable storage stability, allowable viscosity and balanced high-temperature and low-temperature performance.